.png)
As we dig deep into this bear market, crypto adoption continues to sprout from Brazil legalizing crypto payments to Fidelity launching retail crypto trading. A milestone was made for the Bitcoin layer-2 Lightning Network and NFTs enjoyed a solid rise in sales.
As one of Quadency’s most popular bots during this bear market, Bollinger Bands uses two deviations of a simple moving average to identify oversold and overbought positions. You can set up a bot to trade Bollinger Bands in just seconds with Quadency and start making the most out of volatile price action.
Bitcoin (BTC) price topped $17,000 (a long-term resistance level) for the first time since the FTX fallout period began. A Bitcoin ETF may be coming into fruition sooner than later with favorable upcoming regulatory guidelines.
As forecasted in our previous market breakdown we saw continued bullish momentum clearing out the engineered equal high liquidity at $17,000 and mitigated the bearish order-block in discount.
At this point, given that we have:
The probability of a retracement to the equilibrium of the bullish move since the 21st is probable.
This would look like this
Alternatively if the bulls are still in strong control we could see another test deeper into the 1H bearish order block before this retracement takes hold.
Finally, if the bullish sentiment is going to continue strong we could see a move all the way to the $18,000 level where price would be mitigating the extreme bearish order-block.
BTC/USD continued to find support at the monthly support levels previously highlighted; we now wait to see if continued bullish momentum develops or if the bulls are now exhausted.
Now that price has reached an area of LTF value, we could see short term HTF retracement into LTF support to fuel a move to target 1H buy side liquidity.
If this scenario were to take hold, our target points would be at minimum equilibrium of the wider 1M/1W current range from $15,500-$25,200. This would further align with the closing of the 1D fair-value gap and a bearish order block in discount.
Alternatively, if the bulls are now exhausted we look to target the $15,500 lows before any retracement is likely to be on the cards.
A huge week for altcoins with the delisting of multiple, former top-20 coins from Coinbase. Major announcements for project updates boosted Fantom, Huobi, and The Open Network. Ethereum jumped on a prediction by Cardano Founder, Charles Hoskinson, who said that Elon Musk’s Twitter takeover would result in 200 million new crypto users.
ETH/USD this week continued its overall bullish momentum signaling we could be finding longer term support at our daily bullish order-blocks.
We would be looking for price to make its way up to the $1500 level before a deeper retrace takes hold if the bulls are in control.
Alternatively, we could see a rejection of the daily 50EMA, leading to a retrace down into the $1100 level where price could find support for the continued bullish move up into the $1500 price level.
Finally, if the bulls are exhausted we would see a run of the $1000 engineered equal lows liquidity before expecting any retracement
Bitcoin (BTC) price topped $17,000 (a long-term resistance level) for the first time since the FTX fallout period began. A Bitcoin ETF may be coming into fruition sooner than later with favorable upcoming regulatory guidelines.
As forecasted in our previous market breakdown we saw continued bullish momentum clearing out the engineered equal high liquidity at $17,000 and mitigated the bearish order-block in discount.
At this point, given that we have:
The probability of a retracement to the equilibrium of the bullish move since the 21st is probable.
This would look like this
Alternatively if the bulls are still in strong control we could see another test deeper into the 1H bearish order block before this retracement takes hold.
Finally, if the bullish sentiment is going to continue strong we could see a move all the way to the $18,000 level where price would be mitigating the extreme bearish order-block.
BTC/USD continued to find support at the monthly support levels previously highlighted; we now wait to see if continued bullish momentum develops or if the bulls are now exhausted.
Now that price has reached an area of LTF value, we could see short term HTF retracement into LTF support to fuel a move to target 1H buy side liquidity.
If this scenario were to take hold, our target points would be at minimum equilibrium of the wider 1M/1W current range from $15,500-$25,200. This would further align with the closing of the 1D fair-value gap and a bearish order block in discount.
Alternatively, if the bulls are now exhausted we look to target the $15,500 lows before any retracement is likely to be on the cards.
A huge week for altcoins with the delisting of multiple, former top-20 coins from Coinbase. Major announcements for project updates boosted Fantom, Huobi, and The Open Network. Ethereum jumped on a prediction by Cardano Founder, Charles Hoskinson, who said that Elon Musk’s Twitter takeover would result in 200 million new crypto users.
ETH/USD this week continued its overall bullish momentum signaling we could be finding longer term support at our daily bullish order-blocks.
We would be looking for price to make its way up to the $1500 level before a deeper retrace takes hold if the bulls are in control.
Alternatively, we could see a rejection of the daily 50EMA, leading to a retrace down into the $1100 level where price could find support for the continued bullish move up into the $1500 price level.
Finally, if the bulls are exhausted we would see a run of the $1000 engineered equal lows liquidity before expecting any retracement
Be sure to join us on Telegram, Discord and Twitter!
—
Quadency is a cryptocurrency portfolio management platform that aggregates digital asset exchanges into one easy-to-use interface for traders and investors of all skill levels. Users access simplified automated bot strategies and a 360 portfolio view with a free account.
Disclaimer: The content of this article is for general market education and commentary and is not intended to serve as financial, investment, or any other type of advice.
Manage all your crypto assets on the go with zero-gas swaps and a unified portfolio at your fingertips.
Disclaimer: Information contained herein should not be construed as investment advice, or investment recommendation, or an order of, or solicitation for, any transactions in financial instruments; We make no warranty or representation, whether express or implied, as to the completeness or accuracy of the information contained herein or fitness thereof for a particular purpose. Use of images and symbols is made for illustrative purposes only and does not constitute a recommendation to buy, sell or hold a particular financial instrument; Use of brand logos does not necessarily imply a contractual relationship between us and the entities owning the logos, nor does it represent an endorsement of any such entity by Quad Terminal, or vice versa. Market information is made available to you only as a service, and we do not endorse or approve it.
Copyright © Quad Terminal
